The year 2020 is now upon us, and as we say goodbye to 2019, we welcome a new decade and all the twists and turns it will bring for the housing industry. Despite forecasts that mortgage lenders would struggle in 2019, an unexpected turn in interest rates, which were expected
Les Acree manages all aspects of Freedom Mortgage’s correspondent and wholesale lending operation, which is among the largest in the mortgage industry. A career-long mortgage professional, he began with Irwin Mortgage in Indianapolis, Indiana and joined Freedom Mortgage in September of 2006 when Freedom Mortgage acquired the mortgage assets and
When Rick Bechtel joined TD Bank in October 2017, the bank’s residential lending business was the 88th largest provider of mortgage loans in the country. Within two years, Bechtel was able to help raise TD through the ranks to where it now sits – No. 49 by size. In getting
Mark Hanson’s leadership was essential to the successful 2019 launch of the Uniform Mortgage-Backed Security, the most significant change to the $4 trillion To-Be-Announced market in a generation. As Freddie Mac senior vice president of securitization, Hanson helped conceive the UMBS, which combines aspects of Freddie Mac and Fannie Mae
Just in time for the holidays, Openly launched on Tuesday, equipped with $7.6 million from its seed round of funding. The tech-enabled home insurance provider likely has Gradient Ventures on its list of things to be thankful for, as Google’s AI-focused venture fund led the funding round. According to Openly,
Just over a year ago, mortgage rates nearly hit 5%, levels that hadn’t been seen since the early part of this decade. But as we get ready to move into a new decade, mortgage rates are more than a full percentage point lower than that, comfortably back in the 3-4%
Mark Bloom, global chief technology officer at Aegon N.V., has been elected to Freddie Mac’s board of directors, the company announced recently. Bloom brings a wealth of experience to the role as he also serves as a member of the management board at Aegon, a multinational life insurance, pensions and
The founder and CEO of a New York investment firm will spend more than four years in prison after being convicted of lying about the value of hedge funds that included residential mortgage-backed securities. The Attorney’s Office for the Southern District of New York announced this week that Anilesh Ahuja,
Despite spring commonly being thought of peak homebuying season, there’s actually another time of year when it makes the most sense to buy a home. And it’s coming right up. According to new analysis from ATTOM Data Solutions, there are only three days out of the year that see homes
Pending home sales fell in October after two months of gains because of a shortage of properties on the market, the National Association of Realtors said on Wednesday. The seasonally adjusted index measuring signed contracts fell 1.7% from the prior month, NAR said. It’s a frustrating data point for economists,
Mortgage rates ticked up this week as the U.S. economy showed signs of improvement. The average U.S. rate for a 30-year fixed mortgage rose two basis points to 3.68% this week, Freddie Mac said on Wednesday. That brings the monthly average for November to 3.7%, compared with October’s 3.69%. “Following
The U.S. economy grew at a 2.1% annualized pace in the third quarter, picking up speed from the second quarter’s 2% rate and surprising economists, who expected the Commerce Department’s second estimate to be unchanged at 1.9% on Wednesday. The upward revision was based on stronger readings for private inventory
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